CYF Canyon Creek Food Company Ltd

EDMONTON, Nov. 3 /CNW/ -- TSXV Symbol: CYF EDMONTON, Nov. 3 /CNW/ - Canyon Creek Food Company Ltd., ("Canyon Creek") listed on the TSX Venture Exchange Inc. under the trading symbol "CYF" is pleased to announce its first quarter results. Listed below are some of the highlights. SALES Canyon Creek sales declined 12.1% in Q1, 2011 or $92,110 compared to Q1, 2010 ($668,110 Q1, 2011 vs. $760,220 Q1, 2010). This decrease in sales primarily relates to a softer consumer off take on the retail segment. GROSS PROFIT The gross profit increased from 12.8% to 27.4 % during the first quarter, compared to Q1 in 2010. This gross profit increase of $85,881 is the result of reducing the ingredient costs, labour reductions, and increasing product yields. The company has made significant strides on the operational side to control costs as demonstrated with Gross margin improvements. NET PROFIT The net loss for Q1, 2011 is $195,726 compared to the loss of $296,352 in Q1, 2010. This improvement of $100,626 is the result of great improvement in the gross margins as noted above. On a EBITDA basis the company saw significant improvement of $118,894 in Q1, 2010 vs same quarter previous year.  Terence Alty, President, states "Though we were pleased about our improvements on an operational basis, we are disappointed with the performance on the revenue side of the equation.  We will now increase our focus on driving top line revenue growth." ABOUT CANYON CREEK Canyon Creek is a food processing company based in Edmonton, Alberta providing fresh soups and other prepared food products for today's health conscious consumer.  The company provides its fresh food product line to both grocery retailers and a broad range of food service establishments such as restaurants and institutions throughout Canada.  This news release contains forward-looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward-looking statements. The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. %SEDAR: 00004242E p align="center"Mr. Terry Alty, President and Director/p p align="center"Telephone: 1-888-217-1246. Ext. 226/p

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